BCU Becomes First Organization To Receive “BUDGETNISTA STAMP of APPROVAL”
After a year-long partnership with award-winning financial educator, Tiffany ‘The Budgetnista’ Aliche, BCU is proud to announce it has received the first-ever “Budgetnista Stamp of Approval.” In 2021, the Credit Union began working with Tiffany with a goal of doing more to help close the racial wealth gap for its members. A team of project leaders and BCU frontline staff consulted with Tiffany to uncover ways the Credit Union could improve products, processes, and resources to better and more equitably serve all potential members, including communities of color. Tiffany proposed that if BCU could make enough positive change in these specific areas throughout the year, it could become the first organization to earn her “Budgetnista Stamp of Approval.”
One of BCU’s focus areas for the year-long project included providing additional mortgage assistance to promote home ownership and help build generational wealth for members of color. “We learned from Tiffany that this applies to our current members, but also those who have been overlooked or do not know that BCU can be a resource for them,” said Joline Soedarjatno, BCU Senior Director of Corporate Relations & Business Development. To uphold its promise to be Here Today For Your Tomorrow, BCU began work to provide resources and programming for low- to moderate-income communities. This included hosting first time home buying webinars for non-members, providing free virtual and in-person homebuyer education, making progress toward providing and expanding various down payment assistance programs, and more.
Tiffany also helped the Credit Union hone its financial well-being program, Life. Money. You.®, to meet people where they are, carefully targeting both members and non-members with information about BCU’s long-standing Financial Coaching program. Through this program, anyone can request a one-on- one appointment with a certified Financial Coach to help guide them through any number of financial situations or provide basic financial education.
As a way to support their adult members and parent figures within communities of color, BCU has committed additional resources toward educating youth and their families with financial well-being resources, and has partnered with parent-based, African American, and LatinX Employee Resource Groups (ERGs) at several Company Partners. These new initiatives are designed to help minimize the burden on parents, empower the next generation, and narrow the racial wealth gap.
At end of their year together, Tiffany and BCU reflected on progress made and identified areas for continued improvement. During this conversation, Tiffany explained the lofty standards she has for herself and her team, comparing the Credit Union’s performance to such expectations. “This is unicorn status,” Tiffany said, referencing the term she uses to define her uniquely ambitious standards. “It is beyond good. It is beyond great, and I’m just really blown away by how much work you’ve done, and how much you listened and pivoted in such a short period of time,” she continued.
Due to their achievements in empowering racial equity in the financial industry, BCU earned Tiffany ‘The Budgetnista’ Aliche’s “Stamp of Approval” “This stamp is a symbol of our progress, but most importantly, it’s a commitment to providing members and non-members with access to financial tools they need and deserve,” said BCU Director of Diversity, Equity, & Inclusion (DEI) and project advisor, Anjoli Walker. “We are so grateful to Tiffany for her mentorship throughout this journey and we look forward to putting her teachings into practice as we continue to make improvements for the betterment of our members and the community.”